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re: mre - not trading at a pe of just over 1 - wha Of course it...

  1. 392 Posts.
    re: mre - not trading at a pe of just over 1 - wha Of course it isn't at a PE of 1. The market isn't the stupid. Read the financial reports. They made an operating loss in the first half of 2003 but due to 'Other "financial" profit items' made a profit of > $500 million. In the next half they made an EBITDA of around $70 m. Extrapolating this for a full year with a market cap of a mere $1.2 billion means they are closer to a real PE of 8.6 which given their dodgy history is probably not an unrerasonable ratio.

 
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